Has anyone here ever seen a Wells notice?
The 8-k merely reports the receipt of 3 Wells notices "alleging violations of the federal securities laws contained in Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, as amended (“Securities Act”) and Sections 10(b), 13(b)(5) of the Exchange Act of 1934, as amended (“Exchange Act”) and Exchange Act Rules 10b-5, 13b2-1, and 13b2-2 thereunder; and Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Exchange Act Rules 12b-20, 13a-1, 13a-11, 13a-13, and 13a-14 thereunder". It does not quote the notices.
Would the actual Wells notices in the hands of the recipients enumerate the specific acts underlying the alleged violations? Or would the recipients be left to connect the dots themselves? Or would the dots be connected in meetings with the staff and, if so, would they be documented?
Is it reasonable to think that the three notices differ in terms of the allegations included? If so, can anyone discern which allegations are company specific or vice versa?
TIA
